Public Employees Retirement System of Ohio Makes New Investment in Atkore Inc. $ATKR

Public Employees Retirement System of Ohio purchased a new position in Atkore Inc. (NYSE:ATKR) during the second quarter, Holdings Channel reports. The institutional investor purchased 23,420 shares of the company’s stock, valued at approximately $1,781,000.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers raised its stake in Atkore by 2.8% during the first quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock worth $307,000 after buying an additional 143 shares during the last quarter. California State Teachers Retirement System boosted its position in Atkore by 0.7% during the second quarter. California State Teachers Retirement System now owns 33,067 shares of the company’s stock valued at $2,333,000 after acquiring an additional 214 shares during the last quarter. Adams Wealth Management grew its holdings in Atkore by 0.5% during the 4th quarter. Adams Wealth Management now owns 40,726 shares of the company’s stock worth $2,576,000 after acquiring an additional 220 shares during the period. Osaic Holdings Inc. grew its holdings in Atkore by 15.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,794 shares of the company’s stock worth $127,000 after acquiring an additional 240 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter.

Atkore Trading Up 0.0%

NYSE:ATKR opened at $93.77 on Monday. Atkore Inc. has a 12 month low of $53.75 and a 12 month high of $94.14. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -19.49 and a beta of 1.68. The firm has a fifty day simple moving average of $83.21 and a two-hundred day simple moving average of $75.07.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same quarter in the prior year, the business earned $2.17 earnings per share. Analysts expect that Atkore Inc. will post 5.15 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is currently -27.44%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark Lamps sold 300 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the transaction, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ATKR has been the topic of a number of recent analyst reports. Roth Capital downgraded Atkore from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $85.00 to $92.00 in a research note on Tuesday, August 4th. Royal Bank Of Canada set a $76.00 target price on Atkore in a report on Thursday, July 16th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Weiss Ratings raised Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.33.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.